Personal Consumption Expenditures: Services: Recreation Services for Alabama
ALPCESRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,855.80
Year-over-Year Change
76.35%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Recreation Services for Alabama measures consumer spending on recreational services in the state. This trend is an important indicator of economic activity and consumer demand.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks consumer expenditures on recreational services, including activities like sports, entertainment, and hobbies, for the state of Alabama. It is a key component of overall personal consumption and can provide insights into consumer behavior and market conditions.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this trend to assess the health of the Alabama economy and consumer sector.
Key Facts
- Alabama's recreation services spending accounts for about 3% of total personal consumption expenditures.
- Recreational services spending in Alabama has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic led to a sharp decline in Alabama's recreation services spending in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on recreational services in the state of Alabama, including activities like sports, entertainment, and hobbies.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and the health of the Alabama economy, which is important for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the state of the Alabama consumer sector and inform decisions related to economic policy and market conditions.
Q: Are there update delays or limitations?
A: This data is typically released on a monthly basis, with a lag of approximately two months from the end of the reporting period.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Recreation Services for Alabama (ALPCESRECSRV), retrieved from FRED.